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Tuesday, June 1, 2010

Starting a home business - beware

My daughter was employed for 4 years, when the economy plunged she lost her job. She searched diligently for a job, submitting application after application. After several months she decided to take Real Estate classes, begin a new career. After taking the exam and passing it the first time she was really excited. She could still earn a small amount of money while she built her business and continue collecting her checks, right? Wrong!!!
As soon as she got a check for a commision from a rental she handled, about $150.00 she reported the income to unemployment. No problem right? Wrong again!!! They told her that even though she had only collected a few months checks, and even though she fulfilled the obligation to find a job, she was now considered SELF-employed, so she did not qualify for unemployment. She had a child to raise, no health insurance and a car payment and the usual bills. Without unemployment she was literally broke.
So be careful how you switch careers, find out what the regulations are in your state.

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